Electrical wire explosion in liquid media is a promising method for producing metallic nanopowders. It is possible to obtain high-purity metallic nanoparticles and uniform-sized nanopowder with excellent dispersion stability using this electrical wire explosion method. In this study, Ni-Fe alloy nanopowders with core-shell structures are fabricated via the electrical explosion of Ni-Fe alloy wires 0.1 mm in diameter and 20 mm in length in de-ionized water. The size and shape of the powders are investigated by field-emission scanning electron microscopy, transmission electron microscopy, and laser particle size analysis. Phase analysis and grain size determination are conducted by X-ray diffraction. The result indicate that a core-shell structured Ni-Fe nanopowder is synthesized with an average particle size of approximately 28 nm, and nanosized Ni core particles are encapsulated by an Fe nanolayer.